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Richard's Remarks


Remember that megaphone pattern in the Dow? We're now at the upper trendline. This could take the Dow as high as 17,000 to complete the pattern.





Between the technical position of the market and the uncertain position of the fed, we can expect erratic and hard to analyze action in the coming weeks.


At such a crucial area, I expect the market to be irregular and unstable. Also, the Dow has just closed above 16,000 and this can act like a high wire. The main trend continues higher and the melt-up that I expect still lies ahead. Speculative positions in the DIAs can be held.



The watch on watches. The ads are loaded with announcements for expensive watches. It seems that every big designer has his own brand of watch for sale. Why? The mark-up on watches is absolutely huge. They can be made in Switzerland, Japan or China.


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